Published: 2021.01.14. TDS: the rise in the price of gold is not over yet

TDS: the rise in the price of gold is not over yet - Preview

According to the bank's forecast, the recovery of the global economy will be slow, and the recovery of profitability on many assets will drag on indefinitely. “This is primarily due to the fact that the vaccination program in many countries of the world is progressing with a long delay, and the number of infections remains at a high level. For this reason, the global economy has no reason to recover quickly. This means that the yield on government bonds will remain low, which means that the price of gold will receive support to continue to grow, ”the investment bank said in its review. According to analysts, an important level of support for the price of gold will be $ 1,820 per ounce. If it is achieved, it will be possible to count on the resumption of growth. Private investors and traders should closely follow the news related to the implementation of the vaccination program for the population in large countries of the world, as well as data that indicate a resumption of economic activity. "We are still of the opinion that gold retains significant potential for continued growth, and over the next 12 months, the price of the precious metal may rise to $ 2,000 per ounce," - said in a review of the Canadian bank TD Securities.